Answer from Hansard

The Parliamentary Secretary to the Treasury (Torsten Bell)

At the heart of this Government’s pension reforms is the goal of bigger and better pension schemes. We are legislating for that in the Pension Schemes Bill by requiring all local government pension scheme assets to be pooled next year, and multi-employer defined contribution schemes to have at least £25 billion-worth of assets. This reform agenda will deliver returns for savers and ensure that schemes have the scale required to invest in productive assets across the country.